The global bottled water market to grow at a CAGR of 7.95% during the period 2017-2021.

Global Bottled Water Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the sales of various types of bottled water such as bottled spring water, still drinking water and sparkling water.

The latest trend gaining momentum in the market is Increased demand for bottled water with added minerals. The consumers across the globe are looking for bottled water with added minerals. Owing to the increasing awareness about the impact of high-sugar beverages on health, consumers are moving toward healthy beverages that contain minerals and vitamins. The rising trend of natural food and beverages is expected to push the demand for bottled water further.

According to the report, one of the major drivers for this market is Increasing premiumization in bottled water. Owing to the increasing income levels of consumers, the sales of premium bottled water products are increasing. Therefore, bottled water manufacturers are more encouraged to launch premium bottled water products into the market. The growing population of high-net-worth-individuals (HNWI) is a key factor influencing the growth rate of premiumization. Such individuals prefer high priced bottled water than normal bottled water products.

Further, the report states that one of the major factors hindering the growth of this market is Threat from substitute products. Consumers purchase bottled water mainly to quench thirst and for refreshment. There are other substitute products, like juices, soft drinks, and others, available in the market that can serve the purpose as well. More soft drinks are launched into the market considering the demand for these products.

The global soft drink market is expected to reach $1,115.67 billion by 2021 at a CAGR of 5.62% during the forecast period. This shows the growing demand for soft drinks. The wide availability of such products might hamper the growth of the global bottled water market during the forecast period. Many consumers like the taste of soft drinks and carbonated drinks. Manufacturers of such products introduce a wide variety of products to the market in convenient packaging formats. Hence, consumers can choose products based on the purpose and occasion.